Loss on house property u/s 24 & u/s 80ee

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2014
IF SEC 80EE is applicable for only FY 2013-14,(LOAN TAKEN IN FY ONLY 2013-14), THEN RS 100000/-REBATE ON LOAN INTEREST WILL BE FOR ONLY 2013-14.

IT IS NOT REQUIRED TO BE SELF-OCCUPIED - IS IT CORRECT.

EARLOER LOAN FOR ANOTHER HOUSE

LOSS ON HOUSE PROPERTY 24 IF AN EALRIER LOAN TAKEN FOR ANOTHER HOUSE, CAN HE CONTINUE TO GET EXEMPTION OF RS 150000/-TOWARDS INTEREST CAN BE TAKEN.CAN THIS BENEFIT TAKEN IN FY 2013-14 ALSO.

@VaibhavJ

@VaibhavJ (Expert)
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10 January 2014 Hi,

Under 80 EE benefit is available only for residential house property & he should not be owning any Res. property on the date of sanction of loan.

Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 January 2014 The section is applicable for loan taken in FY 2013-14 only. But if the interest payable in FY 2013-14 is less than Rs. one lakh, the balance will be allowed in FY 2014-15.

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